Stanislaus County Employees' Retirement Association, Modesto, Calif., committed $20 million to Melody Communications Infrastructure Fund II.
The $2.8 billion pension fund completed the commitment to the telecommunications fund managed by Melody Investment Advisors on Dec. 30, according to a memo from Stan Conwell, retirement investment officer, included in Jan. 25 board meeting minutes.
There is no record of the pension fund making prior commitments to the manager.
As of Dec. 31, the pension fund's actual allocation to infrastructure was 6.9%; the target is 7.5%.
Investment consultant NEPC assisted.
Mr. Conwell could not be immediately reached for further information.